Kusumgar Ltd. files for RHP.(Photo: Envato) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Kusumgar Ltd. filed preliminary papers with the capital markets regulator SEBI on Monday to raise funds via an initial public offering (IPO). The public offer will include only an offer for sale, with promoters offloading shares worth Rs 650 crore.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd. (NSE) and BSE Ltd. Promoters Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF will be selling stakes worth Rs 420 crore, Rs 200 crore and Rs 30 crore, respectively.

Axis Capital Ltd. and IIFL Capital Services Ltd., and Motilal Oswal are the book-running lead managers for the issue and Bigshare Services Pvt. Ltd.

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